Month: October 2018

Residents of Houston, Texas know what it’s like to endure one of the country’s most severe storms ever recorded. Hurricane Harvey hit the Midwest state in fall 2017 bringing with it severe devastation that has been estimated to have impacted nearly 50% of all homes in the area.

A lot of things impact rent: building size, amenities, housing availability, proximity to central areas and most of all location. When looking nationally the rent variations from city to city can be extreme – especially when comparing historically high-priced areas with that of relatively new up and coming areas. It comes down to the area’s demand – rent has no cap and will go as high as the market allows.

That demand and subsequent price hike can become inflated if a location, mainly metro and city areas become overpopulated. Texas-based property developer Marcus Hiles shares his experience of market inflation by adding, “Take a place like New York City, the introduction of new housing is much more rare than a place like Austin, Texas. NYC’s available space for new property development is scarce and comes at a premium most average renters can’t afford nor makes for a smart decision for investors and developers.”

A new report by online authority in the rental industry, Zumper highlights this push-pull factor that continues to fluctuate the median rental rates nationally.

According to their data, today’s most expensive rental markets are those you would expect: San Francisco, NYC, San Jose, LA and Boston.

Residents of Houston, Texas know what it’s like to endure one of the country’s most severe storms ever recorded. Hurricane Harvey hit the Midwest state in fall 2017 bringing with it severe devastation that has been estimated to have impacted nearly 50% of all homes in the area.

Before Harvey, storm destruction was not uncommon but what this category 4 hurricane did do that others could not is influence the cities rebuild and future development on a massive scale.

Historically, the city of Houston has had a relatively unregulated approach to expansion that has acted similarly to the build out methods of other top Texas cities such as Dallas. With an increasing need for housing, commercial buildings and overall citywide infrastructure, the focus had most often been centered on quick turnaround time rather than longevity and ability to sustain Houston’s fluctuating weather patterns.

Texas once again leads the ranking for today’s best land of opportunity in both residential and commercial arenas. Frisco, Texas – a once sleepy town of 6,500 residents just over two and a half decades ago, the city now boasts 180k+ residents and has been named the single best place to live in America today.

In MONEY’s report highlighting the nation’s top 50 cities live in, Time, Inc. and Realtor.com compiled data from over 500 locations across diverse geographical to come up with today’s city leaders. Combining data on growth, affordability and quality of living, analysis was conducted on each city’s economic health, cost of living, diversity, public education, income, crime, ease of living, and amenities. Scoring some of the report’s highest marks on a state-level were those of Texas, which comes as no surprise as the state’s residents and even the national economy has seen and experienced buzz-worthy growth on a top tier scale